7 Nov 2013
Flash: AUD/USD still unable to clear near term resistance – Commerzbank
FXstreet.com (Athens) – Karen Jones Head Technical Analyst of Commerzbank says that AUD/USD remains completely sidelined.
Key Quotes
“AUD/USD continues to stall at the .9125 mid September high. It is attempting to recover from .9410, the 38.2% retracement and directly below the market, support is reinforced by the .9369 55 day ma.”
“The Elliott wave count is also indicating that the .9422 low may be the end of the correction lower, BUT we do have conflicting signals and for now will adopt a neutral stance.”
“Intraday resistance lies at .9575/.9625. Above here re-targets the 200 day ma at .9696.”
Key Quotes
“AUD/USD continues to stall at the .9125 mid September high. It is attempting to recover from .9410, the 38.2% retracement and directly below the market, support is reinforced by the .9369 55 day ma.”
“The Elliott wave count is also indicating that the .9422 low may be the end of the correction lower, BUT we do have conflicting signals and for now will adopt a neutral stance.”
“Intraday resistance lies at .9575/.9625. Above here re-targets the 200 day ma at .9696.”